No worries. Was an interesting debate!
My experience of over-trading is “Ready-Fire-Aim.” As opposed to the obvious “Ready-Aim-Fire.”
The other thing that is interesting though is that you don’t learn to ride a bike without falling off or in essence making mistakes. Wouldn’t more practice lead to learning faster? If you are a swing trader for example, your learning process could be years simply to develop a plan that is profitable if you are always waiting for the “right” entries?
(This is running under the assumption that you are always learning and improving anyways - not that you have “arrived”)
Hi Precision FX
Thanks for posting about this in the forum. This is the exact problem I have been grappling with lately. I’m a wannabe swing trader. Swing trading suits my time zone and my lifestyle. However, I don’t get a lot of practice demo trading. It can be frustrating looking at the charts and seeing nothing for days or weeks on end. Lately I’ve been placing a lot of trades that are not 100% right. I was justifying this to myself as I have a new platform and wanted to test out the software and how the order placing worked. Fair enough. But today I placed a trade that I felt quite uncomfortable with. I was just placing the trade for the sake of it. For some reason I placed it anyway and again justified it to myself as in, ‘I might learn something’. And I did learn something. It was ‘don’t place bad trades’.
So, I’m also wondering how I can get more practice in. While I’m quite a patient person in general, however, I would like to trade live within the next decade or two ;-). I now have a trade simulator on my ipad which is quite good. It has some of the indicators on it that I use. I’ve been thinking that I could try to alter my system a little to increase the number of trades, or perhaps I should look for a new system while still testing this one. I’ve also been thinking about trying to trade on a smaller timeframe just to get more practice trading. None of this is really ideal. But that’s just the reality I’m working with. I guess, if I’m going to trade this system live anytime I’m going to have to learn to sit on my hands sooner or later. Better to learn now, I guess.
Kylie
If counting cards is cheating then using basic strategy is cheating because a computer was used to run billions of hands to come up with the correct play.
By counting cards you are simply keeping track of the mathematics that dictate correct play.
The only thing that is “illegal”, in the eyes of the casino, is betting enough to overcome the money
lost to a negative slug.
If you count cards out loud but never change your bet size then they WILL NOT ban you.
I’d personally advise not to trade on a iPad… Cause its pretty distracting considering the fact that you are most likely going to be outdoors or away from your computer. Second, I’d say that once you’re pretty confident of what you are doing, why not go small. Send in $100-$500 to trade a micro lot. There’re lots of money psychology to be learnt out there, which I am still doing after trading for a few years… =)
I think over-trading occurs when you do not have a plan and that you are trading in an inappropriate time frame. As for practice, it’s a way for you to make your strategy better.
here here my friend, really nice tip of advice. we are so stuck up on tech innovations and the so called freedom that comes with it, that we kinda forget the freedom itself is also pretty distorted and to manage smth serous like even an auto-trading account needs its serious attatntion. o/w nobody to blame but urself for blowing your account.